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ITAT Delhi Confirms Deletion: ₹1.90 Cr Was a Loan Given, Not Accommodation Entry Received
Case Law Details
- Case Name
- ACIT Vs Tecxpert Software Pvt Ltd (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Delhi
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ACIT Vs Tecxpert Software Pvt Ltd (ITAT Delhi)
In this Revenue appeal, AO reopened the assessment alleging that Assessee had received an accommodation entry of ₹1,90,00,000 from M/s MKD Constructions Pvt Ltd, based entirely on an Investigation Wing report branding MKD as a sham entity. AO treated the amount as unexplained money u/s 69. During reassessment, Assessee filed bank statements, audited financials, tax audit report & confirmations showing that the amount was not received, but actually advanced by Assessee to MKD as a short-term loan, reflected in Note 10 of the ...
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